Shree Cement to acquire railway siding operator

Shree Cement to acquire railway siding operator
01 May 2018

The board of India’s Shree Cement Ltd has approved the acquisition of Raipur Handling and Infrastructure Pvt Ltd, a private railway siding operator, for INR590m (US$8.8m).

The acquisition will help the company improve the management of goods transportation on the railway network, according to a stock exchange disclosure. While the deal is subject to the approval from railway authorities, it is expected to be completed within three months of the execution of a definitive agreement, according to VC Circle.

Raipur Handling and Infrastructure operates a railway siding at the freight terminal in Hathbandh station, Raipur. The terminal is close to Shree Cement’s Baloda Bazar facility in Chhattisgarh.

Published under Cement News